October 14, 2021

Consumer Confidence in October Falls Slightly, Continuing To Fluctuate

by Jharonne Martis.

“This month’s Refinitiv/Ipsos Primary Consumer Sentiment Index decreases slightly as the spread of the Delta variant continues to take a toll on consumer confidence. The pandemic’s enduring negative impact on the economy, with the added risk that Congress potentially wasn’t
going to come to an agreement to raise the debt ceiling, has consumers worried about their personal financial situation,” Chris Jackson of Ipsos states. “The Current and Investment indices both reverse last month’s gains, dropping by about 3 points each, suggesting that consumers are less confident with their current financial state.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Looking forward to Q3 2021 performance, the Home Furnishing sector is expected to post one of the strongest Q3 same store sales. Currently, the sector is on track to post a robust 8.3% same store sales growth on top of a stellar performance last year. This suggests that consumers are still investing in the stay‐at‐home experience as they cope with the Delta variant.”

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